16566 NE 85th Street
Redmond, WA 98052
2420 sqft | 3 beds | 3 baths | 0.04 acres | #2332784
Description
Prime Investment in Redmond’s Tech Hub! This 7-room, townhome-style unit offers a rare opportunity in Redmond’s thriving rental market. The property is steps from the Transit Center and future Downtown Redmond Light Rail. Home to Microsoft, Nintendo, and Honeywell, Redmond’s high housing costs drive strong rental demand. Recognized for its sustainable design, this fully stabilized asset is priced below replacement cost, offering positive cash flow from Day 1. With plans to add 2 units and a light upgrade program to boost rents by 24%, this is a premier value-add opportunity in a prime location! Great investment opportunity, fully tenant occupied generating $112,000/year in gross rental income and professionally managed.
Property Details
- Exterior MaterialsBrick, Wood, Wood Products
- InteriorWall to Wall Carpet
- Date ListedFebruary 14, 2025
- SubdivisionDowntown Redmond
- Sewer InformationSewer Connected
- School DistrictLake Washington
- Elementary SchoolBuyer To Verify
- Middle SchoolBuyer To Verify
- High SchoolBuyer To Verify
- Style32 - Townhouse
- ViewTerritorial
- Property SubtypeResidential
- Original List Price$1,599,000
- Structure TypeTownhouse
- Property TypePurchase
- MLS #2332784
- Cost1599000
- MLS #2332784
- Acres0.0409
- Utility SourcePublic
- Taxes Annual$6,386
- Square Feet2420
- Year Built2011
- CountyKing
- Bedrooms3
- Bathrooms3
- Full Baths3
- Parking Spaces2
- Days on Market (Cumulative)6
Location
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2025-02-17 19:04:09. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Last Updated: . Source: NWMLS
Listing Courtesy
Listing Agent: Coleton Pantley (#NWM146347)
Listing Office: COMPASS (#NWM7912)
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